Book Industry: Creative Destruction

Posted: November 15, 2014 in Uncategorized

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Some believe the printed book industry is being disrupted like the music industry. Others claim that printed books will survive and thrive.

See this article from The Economist in 2011, predicting that the book industry is being transformed: “Disappearing Ink“. A more recent article in the New York Times, published in 2015, claims the printed book is far from dead: “The Plot Twist: Ebook Sales Slip and Print is Far from Dead”.

Bookstores, like retail record stores in music, are suffering the most. See this article, “The Amazon Effect“. Also see “How Amazon Brought Publishing to Its Knees” and “Amazon vs Book Publisher: By the Numbers”.

In the “creative destruction” brought by Amazon, book chain Borders went bankrupt. Here is an explanation why: “5 Reasons Borders Went Out of Business“. Small independent bookshops are especially vulnerable. As this article reported, even the London bookshop made famous in the film Notting Hill has closed: “Independent bookshops in crisis“.

What is the ebook revolution’s impact on authors? See this article on the BBC site: “The e-book revolution: breaking through in the digital age“.  To understand how books sell, see this article, “Everything You Wanted to Know About Book Sales (But Were Afraid to Ask).”

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